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Mathuri
General
Banking and Finance
Cabinet approves obtaining US$ 400 million loan facility from the Asian Development Bank for the financial sector stability and reform program in Sri Lanka
Mathuri
Sep 10 2024
285
The Cabinet of Ministers has
approved the proposal presented by the President, in his capacity as
the Minister of Finance, Economic Stabilization, and National Policy, to
obtain the loan facility of US$ 200 million from the Asian Development Bank
under the second sub program of the financial sector stability and reform program in Sri Lanka.
Approval had been given at the cabinet meeting held on 25-09-2023
to obtain the loan facility of US$ 400 million on a policy basis under the 02
sub programs for implementation of the stabilization of the financial sector and reform program in Sri Lanka.
Accordingly,
US$ 200 million has been given for the first subprogram as of December 2023. In order to obtain the remaining loan amount of US$ 200
million under the second subprogram, 12 pre-policy activities should be
completed, and at present most of said activities have been
completed or in the final stages of completion.
Source: The Island
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